KEY EVENTS TO WATCH FOR:

Monday, October 7, 2019 

10:00 AM ET. September Employment Trends Index

                       ETI (previous 110.62)

                       ETI, Y/Y%

3:00 PM ET. August Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +23.29B)

The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""

The December NASDAQ 100 closed sharply higher on Friday as it extended the rebound off Thursday's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7815.93 are needed to confirm that a low has been posted. If December renews the decline off September's high, the August 26^th reaction low crossing at 7390.00 is the next downside target. First resistance is the 20-day moving average crossing at 7815.93. Second resistance is September's high crossing at 8002.50. First support is the August 26^th reaction low crossing at 7390.00. Second support is August's low crossing at 7244.50.  

The December S&P 500 closed higher on Friday and filled Wednesday's gap crossing at 2937.00 as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the decline off September's high, August's low crossing at 2841.00 is the next downside target. First resistance is 10-day moving average crossing at 2955.84. Second resistance is the 20-day moving average crossing at 2978.36. First support is Thursday's low crossing at 2856.00. Second support is August's low crossing at 2841.00.  

The Dow gapped up and closed higher on Friday after the Labor Department estimated that the American economy added 136,000 jobs in August. While the jobs number was below expectations, it was enough to drive the unemployment rate down to a 50-year low of 3.5%, but not to dissuade the Federal Reserve from cutting interest rates further this year. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above Wednesday's gap crossing at 26,562.22 confirms that a short-term low has been posted.If the Dow renewed the decline off September's high, August's low crossing at 25,339.60 is the next downside target. First resistance is the 10-day moving average crossing at 26,678.09. Second resistance is Tuesday's high crossing at 27,046.21. First support is Thursday's low crossing at 25,743.46. Second support is August's low crossing at 25,339.69.

INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""

December T-bonds closed up 16/32's at 164-30.

December T-bonds closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, August's high crossing at 166-25. Closes below Tuesday's low crossing at 160-19 would confirm that a short-term top has been posted. First resistance is today's high crossing at 165-03. Second resistance is August's high crossing at 166-25. First support is Tuesday's low crossing at 160-19. Second support is the September 13^th reaction low crossing at 160-16. 

December T-notes closed up 15-pts. At 131.260.

December T-notes closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off the September 13^th reaction low, September's high crossing at 132.130 is the next upside target. Closes below Tuesday's low crossing at 129.200 would confirm that a short-term top has been posted. First resistance is today's high crossing at 132.010. Second resistance is September's high crossing at 132.130. First support is the September 13^th reaction low crossing at 128.160. Second support is the 50% retracement level of the March-September rally crossing at 127.171.       

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

November crude oil closed higher on Friday due to short covering ending an eight-day sell off. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off September''s high, August's low crossing at 50.48 is the next downside target. Closes above the 20-day moving average crossing at 56.36 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 55.04. Second resistance is the 20-day moving average crossing at 56.37. First support is Thursday's low crossing at 50.99. Second support is August's low crossing at 50.48.   

November heating oil closed higher on Friday as it consolidated some of the decline off September's high. The mid-range close sets the stage for a steady opening when Monday's night trading session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off September's high, September's low crossing at 178.06 is the next downside target. Closes above the 20-day moving average crossing at 193.90 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 193.90. Second resistance is September's high crossing at 209.35. First support is Thursday's low crossing at 182.39. Second support is September's low crossing at 178.06.  

November unleaded gas closed higher on Friday as it consolidates some of the decline off September's high. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off September's high, September 12^th low crossing at 149.84 is the next downside target. Closes above the 20-day moving average crossing at 159.86 would confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 163.35. Second resistance is September's high crossing at 175.26. First support is the September 12^th reaction low crossing at 149.84. Second support is September's low crossing at 143.10.

November Henry natural gas closed slightly higher on Friday following yesterday's key reversal up. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 2.517 are needed to confirm that a short-term low has been posted. If November extends the aforementioned decline, the August 23^rd low crossing at 2.185 is the next downside target. First resistance is the 10-day moving average crossing at 2.402. Second resistance is the 20-day moving average crossing at 2.517. First support is Thursday's low crossing at 2.207. Second support is the August 23^rd low crossing at 2.185.         

CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""

The December Dollar closed lower on Friday as it extended the decline off Tuesday's high. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term is in or is near. Closes below the 20-day moving average crossing at 98.29 are needed to confirm that a short-term top has been posted. If December renews the rally off June's low, weekly resistance crossing at 99.90 is the next upside target. First resistance is Tuesday's high crossing at 99.30. Second resistance is weekly resistance crossing at 99.90. First support is the 20-day moving average crossing at 98.29.Second support is the 50-day moving average crossing at 97.86.

The December Euro closed higher due to short covering on Friday as it consolidated some of the decline off June's high. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 110.66 are needed to confirm that a short-term low has been posted.If December resumes the decline off August's high, weekly support crossing at 109.21 is the next downside target. First resistance is the 20-day moving average crossing at 110.66. Second resistance is the 50-day moving average crossing at 111.51. First support is Tuesday's low crossing at 109.38. Second support ismonthly support crossing at 109.21.

The December British Pound closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.2425 would confirm that a short-term low has been posted. If December resumes the decline off September's high, September's low crossing at 1.2008 is the next downside target. First resistance is the 38% retracement level of the February-September decline crossing at 1.2592. Second resistance is the 50% retracement level of the February-September decline crossing at 1.2776. First support is Tuesday's low crossing at 1.2241. Second support is September's low crossing at 1.2008.    

The December Swiss Franc closed higher on Friday.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. Closes above the 20-day moving average crossing at 1.0142 would confirm that a low has been posted. If December extends the decline off August's high, May's low crossing at 1.0000 is the next downside target. First resistance the 20-day moving average crossing at 1.0142. Second resistance is the 50-day moving average crossing at 1.0235. First support is Thursday's low crossing at 1.0029. Second support is May's low crossing at 1.0000.

The December Canadian Dollar closed higher on Friday as it consolidates some of this week's decline. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, September's low crossing at 74.84 is the next downside target. Closes above Wednesday's high crossing at 75.80 are needed to temper the near-term bearish outlook. First resistance is Wednesday's high crossing at 75.80 is the next upside target. Second resistance is September's high crossing at 76.23. First support is Thursday's low crossing at 74.98. Second support is September's low crossing at 74.84. 

The December Japanese Yen closed slightly higher on Friday as it extended the rally off Tuesday's low. The low-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.0941 are needed to confirm that a short-term low has been posted. If December resumes the decline off August's high, August's low crossing at 0.0918 is the next downside target. First resistance is the 50-day moving average crossing at 0.0941. Second resistance is September's high crossing at 0.0952. First support is Tuesday's low crossing 0.0926. Second support is August's low crossing at 0.0924.  

PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""

December gold closed slightly lower on Friday and above the 20-day moving average crossing at 1507.30 are needed to confirm that a short-term low has been posted. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the decline off September's high, the 38% retracement level of the May-September-rally at 1459.80 is the next downside target. First resistance last-Tuesday's high crossing at 1543.30. Second resistance is September's high crossing at 1559.80. First support is the 38% retracement level of the May-September-rally at 1459.80. Second support is the 50% retracement level of the May-September-rally at 1426.60.

December silver closed slightly lower on Friday as it consolidates some of the rally off Tuesday's low. The mid-range close set the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the decline off last-Tuesday's high, the 62% retracement level of the May-September-rally crossing at 16.547 is the next downside target. Closes above the 20-day moving average crossing at 17.886 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 17.886. Second resistance is last-Tuesday's high crossing at 18.810. First support is Tuesday's low crossing at 16.940. Second support is the 62% retracement level of the May-September-rally crossing at 16.547.

December copper closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 260.60 would confirm that a short-term low has been posted. If December extends the decline off September's high, September's low crossing at 248.20 is the next downside target. First resistance is September's high crossing at 270.65. Second resistance is the reaction high crossing at 273.20. First support is Tuesday's low crossing at 251.50. Second support is September's low crossing at 248.20.   

GRAINS? http://quotes.ino.com/ex?changes/?c=grains "

December Corn closed down 3 3/4-cents at 3.85. 

December corn closed lower on Friday as it consolidates below the August 12^th gap crossing at 3.92 3/4. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Closes below the 20-day moving average crossing at 3.73 3/4 would confirm that a short-term top has been posted. If December renews the rally off September's low, the 38% retracement level of the June-September-decline crossing at 3.98 1/2 is the next upside target. First resistance is Tuesday's high crossing at 3.92 3/4. Second resistance is the 38% retracement level of the June-September-decline crossing at 3.98 1/2. First support is the 20-day moving average crossing at 3.73 3/4. Second support is September's low crossing at 3.52 1/4.   

December wheat closed up 2-cents at 4.90 3/4. 

December wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.85 1/2 are needed to confirm that a short-term top has been posted. If December extends the rally off September's low, the reaction high crossing at 5.06 1/4 is the next upside target. First resistance is Monday's high crossing at 5.01. Second resistance is the reaction high crossing at 5.06 1/4. First support is the 20-day moving average crossing at 4.85 1/2. Second support is September's low crossing at 4.50 1/2.      

December Kansas City Wheat closed down 1-3/4 cents at 4.04.

December Kansas City wheat closed lower on Friday as it extends the August-October trading range. The low-range close sets the stage for a steady to lower opening when Monday night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Thursday's low crossing at 4.00 1/2 would confirm that a short-term top has been posted. Closes above Monday's high  crossing at 4.20 would confirm that a short-term low has been posted while opening the door for additional gains near-term. First resistance is Monday's high crossing at 4.20. Second resistance is the 38% retracement level of the June-September-decline crossing at 4.36 1/2. First support is Thursday's low crossing at 4.00 1/2. Second support is September's low crossing at 3.81. 

December Minneapolis wheat closed up 6- 1/2 cents at 5.36. 

December Minneapolis wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving crossing at 5.40 1/4 would temper the near-term bearish outlook. Closes below the 50-day moving average crossing at 5.20 3/4 are needed to confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 5.59. Second resistance is the 75% retracement level of the June-Sept. decline crossing at 5.66 1/4. First support is the 50-day moving average crossing at 5.20 3/4. Second support is September's low crossing at 4.86 1/2.     

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

November soybeans closed up 4 1/4-cents at 9.16.

November soybeans closed higher on Friday as it extends this week's rally. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off September's low, the reaction high crossing at 9.24 is the next upside target. Closes below the 20-day moving average crossing at 8.92 3/4 are needed to confirm that a short-term top has been posted.First resistance is today's high crossing at 9.20. Second resistance is the reaction high crossing at 9.24. First support is the 10-day moving average crossing at 9.00 3/4. Second support is the 20-day moving average crossing at 8.92 3/4.    

December soybean meal closed up $0.30 at 303.20. 

December soybean meal closed higher on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 298.90 would temper the near-term friendly outlook. If December renews this week's rally, the 50% retracement level of the June-September decline crossing at 316.80 is the next upside target. First resistance is Tuesday's high crossing at 309.20. Second resistance is the 50% retracement level of the June-September decline crossing at 316.80. First support is the 20-day moving average crossing at 298.90. Second support is September's low crossing at 292.00.    

December soybean oil closed up 2-pts. at 29.87. 

December soybean oil closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, September's high crossing at 30.41 is the next upside target. Closes below last-Friday's low crossing at 28.75 are needed to renew the decline off September's high. First resistance is today's high crossing at 30.15. Second resistance is September's high crossing at 30.41. First support is last-Friday's low crossing at 28.75. Second support is September's low crossing at 28.20.       

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

October hogs closed down $0.03 at $62.40. 

October hogs closed slightly lower on Friday as it extends the August-September trading range. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off July's high, last-July's low crossing at 58.20 is the next downside target. Closes above the 50-day moving average crossing at 64.94 would temper the near-term bearish outlook. First resistance is the 50-day moving average crossing at 64.94. Second resistance is August's high crossing at 70.83. First support is August's low crossing at 59.30. Second support the July-2018 low crossing at 58.20.  

October cattle closed up $0.55 at 107.35. 

October cattle closed higher on Friday as it extended the rally above this year's downtrend line. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off September's low, July's high crossing at 110.60 is the next upside target. Closes below the 20-day moving average crossing at 101.34 would temper the near-term friendly outlook. First resistance is the August 9^th reaction high crossing at 107.85. Second resistance is July's high crossing at 110.60. First support is the 10-day moving average crossing at 104.44. Second support is the 20-day moving average crossing at 101.34.  

October Feeder cattle closed down $0.38 at $141.97. 

October Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 138.73 would signal that a short-term top has been posted. If October extends the rally off September's low, the May 17^th reaction high crossing at 148.23 is the next upside target. First resistance is last-Friday's high crossing at 144.73. Second resistance is the May 17^th reaction high crossing at 148.23. First support is Wednesday's low crossing at 140.50. Second support is the 20-day moving average crossing at 138.73.      

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

December coffee closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, September's low crossing at 94.20 is the next downside target. If December resumes the rally off August's low, the 50% retracement level of the July-August-decline crossing at 10.64 is the next upside target. 

December cocoa closed lower on Friday. The low-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 24.22 would confirm that a short-term top has been posted. If December extends the rally off August's low, the 87% retracement level of the July-August decline crossing at 25.49 is the next upside target.   

March sugar closed slightly higher on Friday. The mid-range close set the stage for a steady opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low, the July 30^th reaction high crossing at 13.25 is the next upside target. Closes below the 20-day moving average crossing at 12.32 would confirm that a short-term top has been posted.   

December cotton closed higher on Friday while extending the August-September trading range. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off August's low, the 38% retracement level of the April-August-decline crossing at 64.62 is the next upside target. Closes below last-Friday's low crossing at 59.58 would temper the near-term friendly outlook.